
In Q3 2025, Inovio reported a net loss of $45.5 million (or $0.87 per share) driven by warrant liability adjustments and expects file acceptance by the FDA by year end for INO-3107 with a potential PDUFA date in mid-2026.
Bullish
Completed the rolling submission of their BLA for INO-3107 and expect to receive file acceptance by the FDA by year end, and they have requested a priority review of the BLA, which, if granted, would provide for a potential PDUFA date around mid 2026.
Bearish
Cash runway is estimated to take them into the second quarter of 2026, and this projection includes a net operational cash burn estimate of approximately $22 million for the fourth quarter of 2025.